BEIJING, July 12 (TMTPOST)— Douyu’s U.S.-listed shares crashed as much as 9.5% on Monday and settled 8.8% lower at US$4.97, the lowest closing since the Chinese game streaming platform listed two years ago. Its domestic rival Huya’s shares fell more than 3% that midday. The performance obviously reflects investors’ concern on the homeland regulator’s latest antitrust enforcement.

The State Administration for Market Regulation of China (SAMR) last Saturday announced it determined to block merger of Douyu and another Tencent-backed domestic streaming firm Huya, as it violated China’s Anti-Monopoly Law. The regulator expected the merger would strengthen Tencent’s dominance in the game live streaming market and have or may have monopolistic competitive impact on game live streaming or restrict competition in the market, thus could harm consumers’ interest as well as healthy development of the industry.

Tencent later that day responded it would follow SAMR’s decision and actively cooperate with regulatory requirements, operate in accordance with laws and regulations and fulfill its social responsibility. Douyu and Huya said on Monday they signed with Tencent to terminate the merging agreement settled last Octorber.

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